The proportion of foreign homebuyers, comprising PRs and non-PRs, increased from 22.9 per cent in Q2 2014 to 27.7 per cent in Q3 2014, according to Knight Frank’s latest Research Bulletin for the Residential sector. The increase comes after a quarter-on-quarter decline in Q2. “This rise in home-buying interest could signal that foreigners are beginning to adapt and adjust to the higher cost of foreign ownership of homes in Singapore. Such increased cost is a result of several property cooling measures implemented over the last few years to dampen foreign demand and curb speculation in the private residential market,” said Tan Tee Khoon, Executive Director, Residential Services at Knight Frank. There were a total of 717 foreign homebuyer transactions throughout the country in the third quarter, and about 17.3 percent were in the prime residential Districts 9, 10 and 11, marking an increase from the 14 percent recorded in Q2 2014.... Continue Reading